Sept. 25, 2003: OPEC To Reduce Output, Heating Oil Prices To Rise
OPEC stated that production would be cut by 3.5 percent. The announcement was a surprise, as it was expected that the member nations would maintain production at current levels.
Although inventories of heating oil in the U.S. are said to be adequate, sharply higher crude oil prices could drive up the price of heating oil along with it.
Publication date: 09/22/2003